Combining both Bevel Tools in to One (Edge Bevel and Vertex Bevel)
Thanks to some outside help I found the commands I needed to activate the interactive version of the bevel tool from the script.

It's wrapped around an operator so it can easily be mapped to the "B" key for example.

import bpy

def main(context):

    toolSettings = bpy.context.tool_settings

    #Are we in Vertex Mode?
    if toolSettings.mesh_select_mode[0]:
        bpy.ops.mesh.bevel('INVOKE_DEFAULT', vertex_only=True)

    #Any other Mode...
    else:
        bpy.ops.mesh.bevel('INVOKE_DEFAULT')


class SmartBevel(bpy.types.Operator):

    """

    [Smart Bevel]

    Description:
    You no longer need 2 separate hotkeys to bevel vertices or edges/faces.
    Simply map the command to something like the "B" key under "3D View / Mesh / Mesh (Global) / Add New Keymap".

    Command:
    arc.smart_bevel

    (www.armoredColony.com)

    """

    bl_idname = "arc.smart_bevel"
    bl_label = "Smart Bevel (ARC)"

    @classmethod
    def poll(cls, context):
        return context.active_object is not None

    def execute(self, context):
        main(context)
        return {'FINISHED'}

def register():
    bpy.utils.register_class(SmartBevel)

def unregister():
    bpy.utils.unregister_class(SmartBevel)

if __name__ == "__main__":
    register()